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Thread: Republicans block Obama jobs bill

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by 1Perry View Post
    But it does cut the taxes the wealthy pay, such as CEO's getting $$$$$ as opposed to stock options, right?
    Fractionally compared to investment and estate tax cuts, yes. As Antiderivative documented above: "In 2007, only 6.53% of their income came from wages."

    Are you thinking the GOP is willing to give up their tax cuts on investments and estate taxes for payroll tax cuts???
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Fractionally compared to investment and estate tax cuts, yes. As Antiderivative documented above: "In 2007, only 6.53% of their income came from wages."

    Are you thinking the GOP is willing to give up their tax cuts on investments and estate taxes for payroll tax cuts???
    That list is only the top 400. A-Rod, C.C. Sabathia, Lebron James (you get the point) Tom Hanks, Johnny Depp (etc) aren't super wealthy?

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by 1Perry View Post
    That list is only the top 400. A-Rod, C.C. Sabathia, Lebron James (you get the point) Tom Hanks, Johnny Depp (etc) aren't super wealthy?
    Not sure what point you are trying to make. Are you saying you want a special rate for celebrities?

    That list of 400 was only for those who received 6.53% of their income from wages. There are many more with income that is primarily from investments. For those, they pay a lesser percentage of their total income in taxes than do the 70% of the country who receive all of their income through wages.

    "A recent study shows that over 70 percent of Americans derive their monthly income from an actual W-2 job."
    Top 1 Percent Control 42 Percent of Financial Wealth in the U.S. – How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth.
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Not sure what point you are trying to make. Are you saying you want a special rate for celebrities?
    I just wonder why the high fives for a tax break for the rich when generally we hear how evil that idea is.

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by 1Perry View Post
    I just wonder why the high fives for a tax break for the rich when generally we hear how evil that idea is.
    Its not about being against the rich, at least not for me anyway. It is about maintaining the progression in our tax rates necessary to support a prosperous economy.

    Its about returning to progressive tax rates where you don't have 70% of the people in the country that work for a living supporting the lower tax rates for those who make their money primarily from investments.
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Its not about being against the rich, at least not for me anyway. It is about maintaining the progression in our tax rates necessary to support a prosperous economy.

    Its about returning to progressive tax rates where you don't have 70% of the people in the country that work for a living supporting the lower tax rates for those who make their money primarily from investments.
    few people who "work for a living" have a higher effective tax rate above those who have billions in investments



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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by TurtleDude View Post
    few people who "work for a living" have a higher effective tax rate above those who have billions in investments
    Under the temporary tax cuts, long term investment tax rates were cut to 15%. Therefore, anyone who's income is derived primarily from investment income pays a lower rate of total taxes than wage earners.
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Frolicking Dinosaurs View Post
    As I see it, it was the lack of support from some Democrats that scuttled Obama's latest attempt to waste money we don't have on a program that won't work but would add to the Debt we don't need more of.

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Its not about being against the rich, at least not for me anyway. It is about maintaining the progression in our tax rates necessary to support a prosperous economy.

    Its about returning to progressive tax rates where you don't have 70% of the people in the country that work for a living supporting the lower tax rates for those who make their money primarily from investments.
    Then I'd be pissed that Obama has done absolutely nothing about that.

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Its not about being against the rich, at least not for me anyway. It is about maintaining the progression in our tax rates necessary to support a prosperous economy.

    Its about returning to progressive tax rates where you don't have 70% of the people in the country that work for a living supporting the lower tax rates for those who make their money primarily from investments.
    You are mis-reading the data. Many of the folks in the top 400 are new to that group....each year there is a large number of people that realize a one time major home run with the sale of a company or large investment position. Are you saying capital gains taxes should skyrocket to achieve your notion of fairness and wealth redistribution? It's ok if you believe that, that perspective is entirely consistent with marxist principles.
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